Solar Panel Cost Guide in Boynton Beach, FL (Mar 2023)
- Boynton Beach Solar Installation Cost: $9,528
- 25-Year Savings: $19,631
- Payback Period: 8.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Boynton Beach
Let's have a look at the average cost of solar panels in Boynton Beach.
Although the national average of solar panels is $2.66 per watt, solar panels in Boynton Beach typically cost about 2.53. The average solar panel system size in Boynton Beach is around 5.4 kilowatts, meaning a cost of about $9,528 for a solar installation, or $13,625 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Boynton Beach based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on power bills.
You can click the button below to get connected with a top solar installer in Boynton Beach that can help you get a more accurate cost estimate for your home.
Solar savings over time in Boynton Beach
| Year | Return on Investment |
|---|---|
| 1 years | $-8,362 |
| 3 years | $-6,029 |
| 5 years | $-3,696 |
| 7 years | $-1,364 |
| 9 years | $969 |
| 11 years | $3,302 |
| 13 years | $5,635 |
| 15 years | $7,967 |
| 17 years | $10,300 |
| 19 years | $12,633 |
| 21 years | $14,965 |
| 23 years | $17,298 |
| 25 years | $19,631 |
Top Solar Installers in Boynton Beach
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be time-consuming. Since solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Boynton Beach
Factors that Affect Solar Panel Costs in Boynton Beach
There are several criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,530. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Boynton Beach, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Boynton Beach to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Boynton Beach is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.63 | $11,051 | $21,458 | 8.5 years |
| 8 kW | $2.58 | $14,451 | $28,894 | 8.3 years |
| 10 kW | $2.53 | $17,710 | $36,471 | 8.2 years |
| 12 kW | $2.48 | $20,827 | $44,191 | 8.0 years |
| 14 kW | $2.43 | $23,802 | $52,052 | 7.8 years |
| 16 kW | $2.38 | $26,636 | $60,054 | 7.7 years |
| 18 kW | $2.33 | $29,328 | $68,199 | 7.5 years |
| 20 kW | $2.28 | $31,878 | $76,485 | 7.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Boynton Beach, FL Solar Cost FAQs
How much does it cost to install solar panels in Boynton Beach?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $12,650 for a 5-kW system and $25,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Boynton Beach?
You can't get solar panels for free in Boynton Beach. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Boynton Beach is currently $283,668, so you can look forward to a value of about $11,630 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Boynton Beach is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.